Samson, Inc. had the following balances and transactions during 2019: $$\begin{array} { | l | l | }
\hline \text { Beginning Merchandise Inventory } & 25 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold } 22 \text { units } \
\hline \text { June } 10 & \text { Purchased } 75 \text { units at } \$ 98 \
\hline \text { October } 30 & \text { Sold } 70 \text { units } \
\hline
\end{array}$$ What is the balance of the company's Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet as per the periodic FIFO inventory costing method?

Question

Samson, Inc. had the following balances and transactions during 2019: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise Inventory } & 25 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold } 22 \text { units } \
 \hline \text { June } 10 & \text { Purchased } 75 \text { units at } \$ 98 \
\hline \text { October } 30 & \text { Sold } 70 \text { units } \
\hline
\end{array}$$ What is the balance of the company's Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet as per the periodic FIFO inventory costing method?

Quizplus · Accepted Answer

The Answer of Samson, Inc. had the following balances and transactions during 2019: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise Inventory } & 25 \text { units at } \$ 93 \
\hline \text { March 10 } & \text { Sold } 22 \text { units } \
 \hline \text { June } 10 & \text { Purchased } 75 \text { units at } \$ 98 \
\hline \text { October } 30 & \text { Sold } 70 \text { units } \
\hline
\end{array}$$ What is the balance of the company's Merchandise Inventory, as disclosed in the December 31, 2019 balance sheet as per the periodic FIFO inventory costing method?

Samson, Inc What Is the Balance of the Company's Merchandise Inventory, as \begin{array}